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 Replies: 19 / Views: 10,560 |
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Pillar of the Community
Canada
815 Posts |
I just hit my first "milk spot" coin today in a (for me) bulk Maple deal. I picked up four, 2 2011's, and two 2012's, and the second 2012 had some spots on the reverse, and a small one on the obverse. I think I can live with it, since an ounce of silver is an ounce of silver. What do you guys think of this phenomenon? Do you think it could impact the potential future value? Are the mintages of the standard maples high enough that there is no expected numismatic value going forward? In addition, I should mentioned that my dealer would likely let me bring it back and switch it for another one, but the price he gave me was superb, and represented a new "plateau" in our relationship, if you follow. I would rather not mention it to him, to keep the deals flowing. Also, I was considering trying to sell Maples on ebay, since his sale price to me, even after ebay/paypal fees leaves a bit of room if I can sell 10-20 a week, which I am confident I can. I might use the milky one as my first sale, listing it as such, of course. |
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Pillar of the Community
Canada
6768 Posts |
Together with silver NCLTs I collect also bullion coins - as many of as "all over the world", and most interesting of them collect as series - the Canadian Wild Life for example. And really unpleasant case - to see some coins starting develop "milk spots" - Some of Wild Life coins, Austrian Philharmonics and Somalian Elephant (tiny spot).
As an investor, I wouldn't mind, as you said, it is still one ounce fine silver, but as a collector - the issue is really annoying, and in the past I replaced all coins with the spots, while now buy from selected online sellers, that I trust in their way of handling of the coins. Except this, made some experiment with the storage / display and learned the best way to do it (suitable for me).
And about the "spotted" coins - I didn't sell them, and will do it when money will be required. Actually, ready to sell them for the spot.
Edited by Silveroid
11/14/2012 2:40 pm
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Pillar of the Community
United States
4008 Posts |
Milk spots on Canadian Mint coins is not a new problem. You can find a lot of info on You Tube about this and some handy tricks for getting rid of them as well. Supposedly, this comes from an inadequate rinse operation during manufacture. It would not bother me especially because all my coins are bullion only with no collector value. As you say, an ounce of silver is an ounce of silver. Still, even if one only collects bullion, it is good when it is nice looking. Might also be a pinch easier to sell if it matters to a potential buyer.
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Valued Member
United States
117 Posts |
If you plan to sell just for spot, the milk spots shouldn't be a problem. BUT, if your trying to sell a rare coin, those spots will ruin any potential price you could have gotten. If you look on ebay, the buy now prices for Canadian Timberwolves with milkspots is at least $20 cheaper then a non-spotted one. As a collector of pretty silver bullion, I wouldn't even take a second look at a coin that has defects, especially milk spots, unless they were tying to sell it for under spot, and even then, I'd just toss those into my "sell later" pile. |
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Valued Member
United States
151 Posts |
I have hundreds of older maple leafs with the milkspots. Even at spot theire worth many times what I paid for them, still, I was really alarmed when I first saw the spot, I'd assumed my efforts to keep the coins tarnish free had failed. I found that using the Jewelry polishing cloth can get them out without any apparent damage I just received a shipment of more today. One cloth can get the spots off about 100 coins before it's used up, but that's pretty time consuming. I'll never buy mint.ca silver coins in bulk again as a result, even though they're my favorite silver coins (milk spots not withstanding.) I'll just get these I already have cleaned up and if I ever get around to buying silver in bulk again, I'll go for the libertad version of the monster box then the ATB Monster box maybe. |
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Pillar of the Community
 Canada
815 Posts |
I sold the milky leaf, and three others at $37.5/E.
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Pillar of the Community
United States
3670 Posts |
Got these spottless gems from TBK as well as a sealed ASE roll and a couple of Scotts stackers.... You cant go wrong with these and I hear a chemical dip or jeweler cloth can remove them harmlessly.... http://www.ebay.com/itm/15094882206....m1555.l2649Still, RCM messed up twice, first with their rolls TOO large for 25 coins, hence most dealers selling them with bubble wrap or tissue on top to prevent scuffing of coins banging around in transit and of course the ridiculous milk spots.... Hey people spend thousands of their own failing dollars for these coins and they spot up. I say RCM needs to address this in new rolls in 2013 and beyond or get past over by the competition.... Edited by Silverhawk74
11/17/2012 02:44 am
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Pillar of the Community
United States
4008 Posts |
My guess, Hawk, is that nothing will happen UNTIL their sales decline because of it. This is not a brand new problem, so they have not addressed this even though it is WELL known. They seem to be in the "if it ain't broke, don't fix it mode" and they do not consider their process to be broken. Until they do, this will continue.
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Pillar of the Community
United States
3670 Posts |
That is true Ed they sell like hotcakes at higher premiums and most know they can remove and care less about the spots....
Since they can be removed it is not a big deal really and they do have great ever changing designs....
Nice to find them spot free however when you can, save the trouble of trying to get the cloths or dip solution....
Edited by Silverhawk74
11/19/2012 3:46 pm
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Pillar of the Community
Canada
815 Posts |
I bought 5 more today,examined them, and STILL ends do up with at least one with spots. I am going back to 90% and late 70's Mexican pieces for bullion, this is outrageous.
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Bedrock of the Community
13014 Posts |
Quote:
That is true Ed they sell like hotcakes at higher premiums and most know they can remove and care less about the spots....
Since they can be removed it is not a big deal really and they do have great ever changing designs.... Its probably mostly that people dont care. Some people do collect them but being a bullion coin their main market will be stackers who I will guess the vast majority couldnt care less about the condition as long as theyre still an ounce of silver. |
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Pillar of the Community
United States
4008 Posts |
Quote:
but being a bullion coin their main market will be stackers who I will guess the vast majority couldnt care less about the condition as long as theyre still an ounce of silver. Perhaps, BB. On the other hand, if all a person wanted was an oz. of silver, they could always buy those 1-oz. Buffalo rounds instead of any nation's official silver coins. Somehow, they just don't appeal to me even if they are a nice piece of silver. Not sure why... maybe I just never cared for most of the designs on the bullion rounds.  |
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Bedrock of the Community
13014 Posts |
I like some of the designs on some of those but prefer the government made ones myself. For me at least I'm sure part of it is that I cant really justify to myself paying a premium for a private round like that when you can get the ASE or whatever for basically the same price. Plus the government ones do have a chance of getting a numismatic premium or gaining some value (even the bullion ones) since they can only be made for that year and that year only. Not saying it would happen, but if anything were to get more popular and gain a premium it would be the government issued coins. |
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Pillar of the Community
United States
4008 Posts |
I do like the historic nature of many of the older coins, such as Morgan and Peace dollars, Walking Liberty halves, $20 St. Gaudens, and Winged Liberty dimes. Those are some really nice classic designs, IMO.  Those Buffalo silver rounds are often on sale for less than $1 premium per oz. so can be pretty cheap compared to ASEs, Maples, and other government minted coins. |
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Bedrock of the Community
13014 Posts |
I love the designs of most of our older coins, modern coins dont live up to what they replaced imo. The buffalo rounds are pretty nice but then it makes me wish I just had real Buffalo nickels. Thats really the problem I run into with the rounds, even though I like the rounds I wish I had the real coin instead |
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Pillar of the Community
Canada
815 Posts |
But, Buffalo nickels are so abundant and cheap....if you can afford Buffalo Rounds...can't you afford many, many Buffalo nickels? PS, I love American coinage myself. I always have, ever since I was a child. I think part of it had to do with how odd it was compared to our coinage, with no queen or king, different people on the back across the different coins, and I loved how US "nickel" coins were not magnetic, and had that red tint on the edge! Fast forward to now, I love the fact that the US does not have to have one steady obverse, and I find the desings to be works of art. I think Canada had some beautiful coins as well, particularly the 1967 set, the Voyageur Dollars, and the old crest Halfs. I do think the US designs are "grander" and more majestic. |
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Replies: 19 / Views: 10,560 |
Posted 11/14/2012 3:09 pm
